Alcobrew Distilleries eyes Rs 1,000 crore turrnover by FY21

Liquor firm Alcobrew Distilleries is targeting a revenue of Rs 1,000 crore by fiscal 2021 as it expands its distribution reach and product offerings in India and overseas.

The company is further looking to invest about Rs 100 crore in the next two-three years for establishing a malt distillation and saturation plant and towards marketing of the brand.

Romesh Pandita, Chairman and MD of Alcobrew Distilleries, said, "We are looking at closing the current financial year with Rs 500 crore turnover and are looking at doubling it to Rs 1,000 crore at the end of 2020-21. We will achieve this growth as we deepen footprint in India, explore new markets overseas and also introduce new products and premium variants of existing brands."

Alcobrew Distilleries reported a net turnover of Rs 350 crore in the previous fiscal. Currently, the company only sells whiskey. But, it is eyeing at getting into rum and brandy products as well.